Germany moves closer to rationing gas as Gazprom cuts supply

Germany has moved closer to rationing gas as it raised the alert level under an emergency plan after Russia slashed supplies to the country.

“Gas is now a scarce commodity in Germany,” economy minister Robert Habeck told reporters at a press conference on Thursday.

Triggering the second “alarm” level under its action plan brings #germany a step closer to the third and final stage that could see gas rationing in Europe’s top economy.

The development reflected a “significant deterioration of the gas supply situation”, Habeck said.

Germany, like several other European countries, is highly reliant on Russian energy imports to meet its needs.
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Germany triggered the "alarm stage" of its emergency gas plan on Thursday in response to falling Russian supplies but stopped short of allowing utilities to pass on soaring energy costs to customers in Europe's largest economy. The measure is the latest escalation in a standoff between Europe and Moscow......etc....FRANCE 24 English
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The price of natural gas per megawatt-hour in Europe increased 60% over the last two weeks, with global gas supply decreasing due to technical issues.

The price of natural gas per megawatt-hour for July contracts in Europe, trading on the Netherlands-based virtual natural gas trading point (#TTF), rose to €127.17 ($133.49) at closing on Wednesday, a 60% jump from €79.40 ($83.35) on June 8.

The megawatt-hour price of natural gas, traded at €79.40 on June 8, was the lowest closing level over the last four months since the start of the Russia-Ukraine war on Feb. 24.

On June 16, natural gas closed at €124.36 to reach the highest closing level since March 31.

The decrease in the quantity of natural gas from Russia to Europe and the closure of the #FreeportLNGterminal in the US state of Texas due to fire have pushed gas prices higher.
#gazprom #LNG